Woodline Partners LP Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Woodline Partners LP acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,573 shares of the oil and gas producer's stock, valued at approximately $2,005,000.

A number of other large investors also recently modified their holdings of OXY. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $40,000. Finally, Millstone Evans Group LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $42,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 1.7%

Shares of NYSE OXY traded down $0.69 during mid-day trading on Friday, hitting $40.78. 2,138,794 shares of the stock traded hands, compared to its average volume of 11,199,198. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 16.71 and a beta of 0.81. The stock has a fifty day moving average price of $41.65 and a 200-day moving average price of $46.44.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Piper Sandler cut their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group cut their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.